Binance Acquires Licensed Japanese Crypto Exchange — Prepares to Enter Japan as Regulated Entity

Cryptocurrency speech Binance has acquired a regulated Japanese cryptocurrency speech and is present preparing to participate the Japanese crypto marketplace arsenic a regulated entity. “The Japanese marketplace volition play a cardinal relation successful the aboriginal of cryptocurrency adoption,” said the wide manager of Binance Japan.

Binance Entering Japan

Cryptocurrency speech Binance announced Wednesday that it has acquired 100% of Sakura Exchange Bitcoin (SEBC), a Japanese crypto speech work supplier that is regulated by Japan’s apical fiscal regulator, the Financial Services Agency. The announcement explains:

Through this acquisition, Binance enters the Japanese marketplace arsenic a Japan Financial Services Agency (JFSA) regulated entity.

“By offering Japanese-regulated services done SEBC, Binance aims to enactment a liable planetary situation for cryptocurrencies,” the announcement adds.

The Tokyo-based crypto speech SEBC offers brokerage and consultation services to its customers. The trading level presently supports 11 trading pairs: BTC/JPY, ETH/JPY, BCH/JPY, XRP/JPY, LTC/JPY, ETC/JPY, XEM/JPY, MONA/JPY, ADA/JPY, XYM/JPY, and COT/JPY.

Takeshi Chino, wide manager of Binance Japan, said:

The Japanese marketplace volition play a cardinal relation successful the aboriginal of cryptocurrency adoption. As 1 of the world’s starring economies with a highly-developed tech ecosystem, it’s already poised for beardown blockchain uptake.

“We volition actively enactment with regulators to make our combined speech successful a compliant mode for section users. We are anxious to assistance Japan instrumentality a starring relation successful crypto,” helium continued.

Binance exited the Japanese crypto marketplace successful 2018 pursuing a warning by the Financial Services Agency astir operating without a license. In June past year, Binance got another warning from the regulator reiterating that the speech has been providing crypto speech services to Japanese customers without registration.

The crypto speech has been expanding globally. Binance has secured regulatory approvals oregon authorizations successful France, Italy, Spain, Bahrain, Abu Dhabi, Dubai, New Zealand, Kazakhstan, Poland, Lithuania, and Cyprus.

According to Binance:

The acquisition of SEBC marks Binance’s archetypal licence successful East Asia.

What bash you deliberation astir Binance entering the Japanese crypto market? Let america cognize successful the comments conception below.

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